XinFin.Org Releases Full Technical White Paper Showcasing IoT Enabled Real World Connectivity

XinFin.org releases Full technical white paper for XDC hybrid blockchain protocol, invites participation from developer community and institutions

Aiming to fix the inefficiencies in global trade and financing, XinFin.org has released it’s full technical white paper for the XDC01 protocol, the Hybrid blockchain platform that it is forked from ethereum and quorum.

Github Link to the technical white paper :

https://github.com/XinFinorg/Documentation/wiki/The-XDC-Protocol

“We are excited to be presenting our full technical white paper for XDC Hybrid blockchain protocol today. XinFin aims provide a platform for real world institutions to build real applications in the trade and finance domain. We would like to invite and work with best minds of the world. Developers can interact with us on various public channels.” Added Karan Bharadwaj, CTO of XinFin.

“XinFin has already secured LOIs and agreements from several state level Governments to pilot peer to peer financing of projects. We are about to onboard some of the largest institutions of the world for a variety of use cases in financing and are in discussions with several banks and regulators to support these pilots.” added Mr. Atul Khekade who looks into Ecosystem Development at XinFin.

A Hybrid Blockchain

Public blockchains like Bitcoin and Ethereum still have many unresolved issues like security and scalability because of the protocols themselves. Hybrid blockchains have been in discussion for a while but a trusted hybrid network does not exist today. XinFin aims to develop a full production hybrid blockchain by forking open source platforms like ethereum and quorum.

Addressing Security

Fully trustless nature of public blockchains expose the account holders and stakeholders to various security risks. While participation of the XDC blockchain is open for all, the masternodes participation is permissioned and that gives the network stakeholders all the flexibility to address various security concerns.

Transactions Speed

Since the core consensus process of the XDC protocol is based on Proof of Authority evolving gradually into proof of stake, it does not use the expensive and energy heavy proof of work. This not just ensures that the network is a “green network” but is also able to process anywhere from 150 to 300 transactions per second.

Evolving Consensus

While currently using the RAFT consensus, XDC protocol aims to evolve the consensus mechanism to better suit the use case. The enhancements in the roadmap include supporting higher TPS and ensuring robust Byzantine Fault Tolerance for greater security as the number of masternodes proliferate across the globe. The consensus is also meant to support the distributed nature of the XDC protocol as vast network of enterprises adopt the XDC protocol.

Addressing Markets Volatility

Digital Asset markets deal with high and notorious level of volatility to the extent that such networks are too risky to be used for mission critical transactions. The settlement windows for proof of work trustless systems are also significant which exposes the transacting parties to various risks. While XDC protocol does not use POW consensus, it may still be exposed to the volatility of digital assets. To address this problem, XDC network has a provision for hedge pool that ensures stable price during lifecycle of the transaction.

XDC01 Token Standard

With the regulations around token based on digital assets coming forward in for most jurisdictions, XDC protocol has proposed a XDC01 standard that not just ensures security during fund raising process but also allows regulated institutions to work with a secure tokens environment on XDC hybrid network.

Business Applications :

Peer to Peer Projects Financing

XDC protocol is aimed at delivering a complete visibility and financing tool for regulated institutions as well as governments to undertake peer to peer projects financing, especially public infrastructure projects. Hybrid architecture of the XDC protocol allows institutions to run private sub-networks over the hybrid XDC network that ensure privacy for sensitive financing projects. The architecture of the XDC protocol allows a messaging and middleware layer over the XDC private subnetworks that maintains the state of a financial asset.

Assets and Equipments Financing

XDC Protocol also allows private subnetworks for mobile assets like aircrafts or construction equipments. The private subnetworks can maintain sensitive financial data of the asset and also provide a settlement layer on the top of it on the hybrid XDC network.

Internet of things (IoT) transactions and connectivity

The XDC Protocol maintains an ‘oracle’ service connected to the hybrid blockchain and another essential component called the resource manager. It is a middleware layer that connects external real world devices to XDC Protocol over Internet of Things. The IoT connectivity enables massive real world applications over XDC protocol.

Institutional Participation

Hybrid architecture of the XDC protocol allows institutions to build their projects over the permissioned sub-network connected to XDC protocol. The institutions can choose to work with a fully permissioned instance allowing full security of sensitive financial data, work with XDC protocol as a messaging layer or connect to the various digital asset liquidity mediums through the XDC protocol.

Regulatory Participation

The XDC Protocol has been designed with various node types. These include a Full Node, Reference node, Lite Note and Auditing Node. The Auditing node is meant to facilitate regulatory participation mechanisms and can be requested and run by various regulators to maintain appropriate visibility over the XDC protocol.

KYC/AML Standards

Since XDC protocol is a permissioned Hybrid network, it is made to ensure that all token holders follow mandatory KYC/AML standards before signing up through any master node.

Developer Community

XinFin.org has opened up its platform for participation for the best programming minds of the world. It believes that a hybrid blockchain protocol like XDC holds a greater chance to going into full production of real world institutions. The XinFin developer community will be integral in the maturation of the XDC protocol. This kind of development will be very beneficial in the long term for production implementations of blockchain technology in regulated financial industries. There are bounties for developers that are able to contribute in meaningful ways that include allocation of XDCs, the native fuel of XDC protocol. We hope to attract the best developer talent, on a project, that we believe, is going to be revolutionary in the mainstreaming of blockchain technology.

Resources for Developer Community to work with XDC Protocol :

Comminuty Page:

http://www.xinfin.org/community

Slack Channel for Developers :

https://xinfin-public.slack.com/

Gitterchat Channel for Developers :

https://gitter.im/xinfin-public

Github :

https://github.com/XinFinorg

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.